menu
bartleby
search
close search
Hit Return to see all results

A note with a face value of $4300 is discounted at 3%. If the discount was $21, find the length of the loan in days?

Question

A note with a face value of $4300 is discounted at 3%. If the discount was $21, find the length of the loan in days? 

check_circleAnswer
Step 1

Calculation of length of the loan in days:

The length or duration of the loan is approximately 60 days.

Annu...

($4,300x 3% $129)
help_outline

Image Transcriptionclose

($4,300x 3% $129)

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in

Business

Finance

Related Finance Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: Case Study #3: Chapter 6 Business Analysis -  A business can be valued by capitalizing its earnings ...

A: You have asked a question with five sub parts. I will address the first three sub parts. Please post...

question_answer

Q: Mojo Mining has a bond outstanding that sells for $2,183 and matures in 19 years. The bond pays semi...

A: Cost of debt: It is the overall rate that the company pays to utilize these kinds of debt financing.

question_answer

Q: how to solve a-c?

A: Calculating the value of each amount in the flexible budget. We have,

question_answer

Q: You bought a home for $150,000 and put down 10% and got a mortagage at an interest rate of 4.35% per...

A: We will make use of the PMT function in Microsoft Excel to determine the monthly payment on the mort...

question_answer

Q: Block, S., Hirt, G., & Danielsen, B. (2017). Foundations of Financial Management. New York, NY: ...

A: Calculating the anticipated return after financing costs with the most aggressive asset financing mi...

question_answer

Q: Suppose that C is the price of a European call option to purchase a security whose present price is ...

A: As a first step, let's assimilate the information given to us:Current stock price is SC is the price...

question_answer

Q: Case Study #2: Chapter 5 Business Analysis - Harry, a friend of yours, is taking a course in economi...

A: If we have money today, we can use it in two ways:We can use the money to buy something that we want...

question_answer

Q: Use the following information: . Debt: $79,000,000 book value outstanding. The debt is trading at 94...

A: Calculation of Total Market Value:

question_answer

Q: Leonatti Labs’ year-end price on its common stock is $22. The firm has a profit margin of 12 percent...

A: Price, P = $ 22Profit margin = Net income / Sales = 12%Total Assets = $ 35 millionTotal Assets turno...

Sorry about that. What wasn’t helpful?